XML 45 R59.htm IDEA: XBRL DOCUMENT v2.4.0.8
SEGMENTS (Details 2) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Segments reporting        
Land sales $ 59,351 $ 53,734 $ 260,186 $ 166,981
Builder price participation 5,311 2,002 13,251 5,703
Minimum rents 24,380 21,538 66,929 60,598
Tenant recoveries 7,601 5,291 20,509 15,681
Condominium rights and unit sales 4,032 810 11,516 31,191
Other land revenues 4,112 3,579 9,322 10,211
Resort and conference center revenues 8,150 8,169 27,198 30,543
Other rental and property revenues 6,291 4,492 18,601 14,557
Total revenues 119,228 99,615 427,512 335,465
Cost of sales - land 27,743 27,063 93,540 82,616
Condominium rights and unit cost of sales 2,026 406 5,788 15,678
Other property operating costs 15,198 20,329 45,603 52,126
Rental property real estate taxes 4,559 3,698 12,540 10,814
Rental property maintenance costs 2,313 2,048 6,402 5,996
Resort and conference center operations 8,910 7,381 22,833 22,537
Provision for doubtful accounts 119 204 293 910
Demolition costs 760 1,386 6,711 1,386
Development-related marketing costs 6,387 1,050 15,909 1,771
Depreciation and amortization 13,018 9,986 35,000 23,210
Other income, net (11,409) (6,314) (27,468) (11,727)
Interest income 1,162 (2,061) (19,651) (6,484)
Interest expense 12,136 1 28,354 144
Equity in Earnings from Real Estate and Other Affiliates (5,509) (3,594) (18,164) (12,034)
REP EBT 35,560 23,408 187,582 107,450
Operating segment | Master Planned Communities
       
Segments reporting        
Land sales 59,351 53,734 260,186 166,981
Builder price participation 5,311 2,002 13,251 5,703
Minimum rents 210 196 614 585
Other land revenues 4,103 3,579 9,296 10,211
Other rental and property revenues 198   373  
Total revenues 69,173 59,511 283,720 183,480
Cost of sales - land 27,743 27,063 93,540 82,616
Land sales operations 8,068 7,393 24,629 22,705
Land sales real estate and business taxes 2,927 2,370 7,016 5,348
Depreciation and amortization 101 10 304 25
Interest income (17)   (96) (16)
Interest expense (3,332) (3,689) (13,210) (13,295)
Total expenses 35,490 33,147 112,183 97,383
REP EBT 33,683 26,364 171,537 86,097
Operating segment | Operating Assets
       
Segments reporting        
Minimum rents 24,035 21,160 65,853 59,427
Tenant recoveries 7,581 5,254 20,406 15,547
Resort and conference center revenues 8,150 8,169 27,198 30,543
Other rental and property revenues 6,076 4,493 17,756 14,538
Total revenues 45,842 39,076 131,213 120,055
Other property operating costs 14,116 17,640 42,782 48,436
Rental property real estate taxes 3,716 3,148 10,585 9,054
Rental property maintenance costs 2,154 1,906 5,962 5,594
Resort and conference center operations 8,910 7,381 22,833 22,537
Provision for doubtful accounts 103 201 277 907
Demolition costs 761 1,386 6,689 1,386
Development-related marketing costs 589 1,050 5,379 1,771
Depreciation and amortization 11,261 9,171 29,802 21,687
Interest income (11) (32) (141) (122)
Interest expense 4,917 4,017 10,889 14,715
Equity in Earnings from Real Estate and Other Affiliates (202) (647) (2,774) (3,743)
Total expenses 46,314 45,221 132,283 122,222
REP EBT (472) (6,145) (1,070) (2,167)
Operating segment | Strategic Developments
       
Segments reporting        
Minimum rents 137 182 473 586
Tenant recoveries 18 38 92 135
Condominium rights and unit sales 4,032 810 11,516 31,191
Other land revenues 9   26  
Other rental and property revenues 17 (2) 472 18
Total revenues 4,213 1,028 12,579 31,930
Condominium rights and unit cost of sales 2,026 406 5,788 15,678
Other property operating costs 1,083 2,691 2,821 3,692
Rental property real estate taxes 843 549 1,955 1,759
Rental property maintenance costs 159 142 440 402
Provision for doubtful accounts 16 3 16 3
Demolition costs (1)   22  
Development-related marketing costs 5,798   10,530  
Depreciation and amortization 445 48 1,483 139
Other income, net   (2,652) (2,373) (3,609)
Interest expense (3,198) (401) (9,828) (1,363)
Equity in Earnings from Real Estate and Other Affiliates (5,307) (2,947) (15,390) (8,291)
Total expenses 1,864 (2,161) (4,536) 8,410
REP EBT $ 2,349 $ 3,189 $ 17,115 $ 23,520